From Our Research Series
Underemployment and its impact on workforce
An untold number of people are underemployed in the number of hours they work, but also in the use of their skills. Their labor remains untapped and companies do not access the greatest breadth of talent available to them. Changing this trend in the labor market begins with understanding what underemployment is and why it is important. In this article, we outline the terminology and recent history of underemployment in the United States to provide a backdrop for our series on underemployment issues that are affecting the current labor market.
Did you know?
Big data analytics, cloud computing, the Internet of Things, and 3D printing will have a lasting impact on service industries such as marketing, finance, entertainment and medicine. Companies will be able to perfect tasks at a higher rate with the use of machines, and our increasing reliance on technology will require us to assess the skills needed of human workers.
From Our Points of View
There has been a dispersal of tech jobs in the U.S. in recent years which is likely to determine where the jobs may be growing and shrinking in the future. The “third tech turning,” as Forbes’ Joel Kotkin called it, has recently resulted in a significant growth of STEM jobs in smaller markets.
Artificial Intelligence is a family of technologies that can be categorized in five broad terms: natural language, virtual assistants, robotic process automation (RPA), machine learning and computer vision.
Bain & Company (2017) estimate that Business-to-Business Internet of Technology (IoT) applications will be worth over $300 billion by 2020. This presents a sizeable business opportunity.
About Global Knowledge Center
The Global Knowledge Center is the Industry Intelligence unit of Newmark Knight Frank. The Global Knowledge Center researches trends in the labor market, workplace variables, and the economics of geography to develop industry insights that shape strategic management decisions.